Expat Cyprus News

Latest 10 news items tagged Cyprus

19 Jul at 6 PM 2019

Inflation in Europe stays low but currency exchange rates have expats worried

Expats living in Europe are seeing low cost of living increases. Expatriates living and working in the European Union are facing an average cost of living increase of 1.6 per cent in both May and June this year. According to the European Central Bank, it’s targeting an increase of just below two per cent, with European parliament members now saying they’re ready to support increasing inflation by means of raising interest rates. Those living in Romania have seen the highest inflation at 3.9 per cent, with Hungary coming in on...
10 Jul at 6 PM 2019

Wealthy would-be expats can go it alone for residency and citizenship

As the world becomes more politically and economically unstable, more and more wealthy would-be expatriates are getting caught by smart salesmen. The trend of internationalising is the latest way for wealthy nationals to ensure their capital, investments and even businesses are safely stored against economic disaster whilst they continue their lives in another country. For high net worth individuals, becoming a global citizen is the way to go, but taking wealth out of the country of origin requires dealing with key issues. The...
3 Jul at 6 PM 2019

Small British expat community in Cyprus devastated as homes collapse

British expats living in the Cypriot hill village of Pissouri are being evicted as their homes are collapsing due to underground water courses causing giant underground sink holes and landslides. The British expat community in Pissouri are mostly retirees and families, enjoying their time off in the sunshine amidst glorious sea vistas. The problem became apparent as early as 2015, but is now at a crucial point, with 70 homes either rendered uninhabitable or under immediate threat. One Briton’s swimming pool and front drive are now...
24 Jun at 6 PM 2019

New Cyprus healthcare service causing problems for expats

Expats living and working in Cyprus are being denied online registration access to the island’s recently launched national health service. EU citizens including expat Britons as well as Turkish Cypriots living and working on the island are complaining to local media that they’re unable to register online for the General Healthcare System. In addition, expatriate Greek residents are being told they must present proof of their residency even although they’re paying into Cyprus’s Social Insurance Fund and special agreements exist...
20 Jun at 6 PM 2019

Cyprus property market now exclusively for ultra-rich expats buying into citizenship

Official monthly reports show Cyprus real estate is booming. The housing market in Cyprus would seem to be enjoying a spurt in the right direction after a drop in sales earlier this year. Cyprus has been a favourite British expat destination for several decades, with its long-established foreign community living, working and retiring on the historic Mediterranean island. This year, it seems to be more popular than ever, with property sales across the entire region up by 60 per cent on last year’s figures. Of all the purchase...
13 Jun at 6 PM 2019

Rogue IFAs now illegally targeting British expats in Cyprus

In spite of the seemingly unending official and unofficial warnings against dodgy IFAs, rogue financial advisers are now swarming around Cyprus’s expat community. Most British expatriates living in Cyprus fall into two categories – retirees and small business owners. Both groups see the need to invest their pension pots or capital in order to get a reasonable return whilst keeping the cash safe in case of emergencies. Sadly, a good number are financially naive, and are falling for every trick in the unregistered, unregulated...
31 May at 6 PM 2019

Family of stroke-hit Brit ex-serviceman retirees on Paphos appeal for air ambulance funding

A desperate British family has launched an appeal for funds to get their seriously ill expat father home from Paphos. Crowdfunding is now the last resort of many families of expats who’ve fallen seriously ill whilst on retirement in overseas locations with less than sympathetic, competent medical services. This latest appeal is on behalf of Taunton- born retiree Paul Elleray, who suffered a stroke on May 16 and is now in a Paphos hospital unable to communicate or move his right side. His daughter Jodie, along with her sister,...
8 Apr at 6 PM 2019

Cyprus joins Ireland in Brexit conundrum

Ireland isn’t the only island being threatened by the worsening Brexit situation. The need for an Irish backstop as part of the Brexit agreement could also be applied to another, similar island set in slightly warmer climes – Cyprus. As in Ireland, the former British dependency is split into two halves and is home to a good proportion of the British military, although revolution isn’t the issue as yet in either case. The Greek half of Cyprus holds a large contingent of British military, set in Sovereign Base Areas containing...
3 Apr at 6 PM 2019

Brexit to threaten Cypriot economy as well as expat lives

British expats and the British economy aren’t the only sectors expected to suffer due to Brexit. The upcoming disaster known as Brexit won’t just wreck the British economy and several million expats’ lives as it will also hit on the economies of a good number of the remaining EU member states. According to a report from Standard and Poor, the Netherlands, Ireland and Luxembourg will be worst hit, with Cyprus also extremely susceptible to the effects of new rules on the export of a variety of services and goods to the UK. The...
26 Mar at 6 PM 2019

Cyprus extends time for British expat residency applications

Recently-arrived British expats on Cyprus appreciate extra time for arranging residency. Cyprus is now joining with a good number of other EU member states in giving British expats more time to arrange their residency status in the event of a no-deal Brexit. Both new arrivals and established Britons will now have at least a year to get official residency status, a move which is being strongly approved by the UK government’s High Commission on the island. Some 70,000 British expats are living either full or part-time on Cyprus,...